Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1887-06-16
COMMERCIAL RESUME.


Governments steady.
Sterling weak.
Silver $50.
Wheat 1rmer, but excited.
Oil closed at G25
Cotton quiet.
Coffee stead!er.
Nothing new in sugar
Wool is dull and uncertain.
Hides quiet.
KERSHAW WILL PULL THROUGH.
CHICAGO, ILL, June l5.-EXtrR editions
of the evening papers say the indications
now are that Kershsw & Co., Will pull
through and dozens Of big failures that
were imminent will be averted. Joe
Wiltshire of Cincinnati, the head and
front of the wheat clique, with q number
of friends, is in town with pot full of
money TO back up Ker5haw. It is said
that the Cincinnati crowd will insist be
fore putting up that Kershaw's trades be
Teinstated. This, EgglestOn, Kershaw's
partner, is able 10 do himself If he
chooses. KeTshsw said just before the
opening of the board this morning: 81
viii pay nv difference to-day and mar
gins ~ the market" Wiltshire said,
''keTShsw has money and will so through
to-day al right"
OPENING OF THE BOARD.
CHICAGO, Ill, June l5.-There was an
enormous crowd on the floor and in the
galleries Of the Board of Trade long be
fore opening hour this morning. When
the bell sounded at 9 80 roar went up
and the days session began. The first
sales of wheat were at I51C for June and
rs for July when was an advance of iC to
per cent. respectively. Soon after the
81
suspension of three small firms viz: j. Nj.
Yost K Co., B. NJ Cleary and S. G. ORGY.
The suspensions OF these firms did not
cause any excitement as they were in no
way identified with the clique, and at
o g. m. price was 774c for June and 754c
for July. Suspension of Pickering < Co.,
another small firm was announced short
ly after 10 O'Clock.
THE CLIQUE COMES TO TINE.
CHICAGO, Ill, June l5.-There WAS q
sensational and dramatic council at the
American Exchange National bank. 1t
began at a. m, and settled the fate of
tO-day'S market. There were present
Joe Wiltshire OF Cincinnati, O middle
sized, swart1y man. EggeStOn, ker-
shaw's special partner whose fortune is
st stake now because it is claimed he has
been active in the business, wss there.
Kershaw's face showed lines made by the
terrible forty eight hours strain. Presi
dent ID. w. Irwin of the bank firm OF IT
win, Green & Co., was the most deter
mined looking man OF the lot. Cashier
Dewar Of the bank and several of the di-
TectOrs were present. This con-
sultauOn began Just as soon
as Wiltshire got off the Cincinnati train.
He was accompanied ty q smooth faced
young fellow, MS clerk, whose sack coat
bulged out with greenbacks. Thirty
minutes after the council was over ker
shaw had money TO pay his differences
and to margin the market. Immediately
after the opening of the Board of Trade
the secretary raped for silence. 1t was
8 difficult thing 70 obtain, but when he
finally prevailed he read the following:
GENTLEMEN-We are prepared to Ill all our
clearing house differences and TO margin be
low the market.
signed, CD. KERsHAw & Co.
TIE Board of Trade directors held
specisi session before the opening of the
exchange for the purpose Of deciding
whether or not TO take any action. 1t
WIS thought when the meeting was called
that it would be best TO adjourn the board
for the day, in order to allow the excite
mens TO cool of, but it was finally decided
\ REACTION.
CHICAGO, ILL, June l5.-il q. m. The
last raid by the bears has had disqmetlng
effect on the beard and there is a renewal
OF the nervous excitement and unCer-
tainty of yesterday and early this morn
ing This was probably increased by the
rumOr that Kershaw & CO. would margin
their wheat down to IS cents only. At
1880 the bears made another raid on
July wheat and it sold down by jumps to
-. The pit is once more all nervous eX-
citement and uncertainty.
1l:20 A. M.-Liberal orders to buy wheat
are coming in from outside parties and
me market Is becoming steadier. July
sold up to - and it is now quoted at 734
with stronger tendency.
1850 \. M.-F0ur more failures have
lust been announced on Change. The
firms are T. B Balding & Co., Crosby &
Co., Hubbard & Co. and NJ B. CroftS.
Balding & CO. claim to be even on the
market. The suspension of Hubbard &
Co. snd Crosby & Co. caused some sur
prise, as both came unexpectedly.
Hiboard & Co. claim to be solvent. July
wheat dropped to 734c. Charles Henrotin
c Co, stock Brokers and members OF the
New York snd Chicago Stock Exchanges,
have failed, The firm was caught IN the
wheat squeeze, and was pushed to the
wall NJ statement OF their condition is
vet Obtainable. Hanrotin was until
recently president of the Chicago Sto OK
Exchange. His failure was great sur
prise.
1915 p. M-Tne suspensions of S. NJ.
Robinson and Crafts & Co. have been an
nounced. It is utterly impossible to gain
any adequate ides of the amount involved
in the failures B. j. McCleary's down
fall is thought TO be the heaviest, and will
each more firms than any ohter. Nc
Clear p, It IS said, was in the deal quite
heavily, bat in the present unsettled
state of affairs even the members of the
firm have NJ IDEA how they stand.
Margins are open and trades unsettled,
and unit! sn adjustment it is next to i'm
possible 10 tell now any firms stand.
The excitement Is fast increasing.
KERsHAW IS co. COLLAPSE.
l.I5 =. M-Kershsw & Co. are officially
,)sted as having failed to go through the
Tearing house. This means their col
apse The immediate cause of the fail
ure was due 70 RJsenfeId & Co, who gar
nlsheed Kershsw's account IN the Amer